Lilly 2Q earnings rise 44 pct as sales increase
AP , Indianapolis: Jul 24 2008
Made Popular Jul 24 2008

Drug and medical device maker Eli Lilly says its earnings rose 44 percent in the second quarter as sales growth was helped in part by the weaker dollar.

Indianapolis-based Eli Lilly & Co. says it earned $958.8 million, or 88 cents per share, compared with $663.6 million, or 61 cents per share, in the same quarter last year.

Excluding one-time costs for restructuring and an acquisition, the company says it earned 99 cents per share in the latest period.

Lilly says revenue increased 11 percent to $5.15 billion from $4.63 billion.

Analysts polled by Thomson Financial expected earnings of $1 per share on revenue of $5.03 billion.

The company says it now expects lower full-year earnings per share, including one-time items, of $3.79 to $3.94, down from prior estimates of $3.90 to $4.05.

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